While there was no major change in factory quotes for lambs over the weekend, factory buyers were keen to secure supplies at the start of the new week.

This meant that while official quotes may have been in the range of €5.90/kg to €6.10/kg, actual deals were being concluded between €6.05/kg and €6.20/kg.

Sellers with bigger numbers were able to push this to €6.30/kg and in exceptional circumstances beyond this.

Overall, the majority of deals were being concluded in the €6.20/kg to €6.30/kg range.

Money on the table

With factories keen to secure supplies, farmers will be watching to see if any more money is on the table as the week goes on.

As things stand, it is a case of consolidating the progress made last week.

Demand for lambs is helped by the fact that supply in Ireland and the UK is down on 2020.

In Britain, Bord Bia is reporting that factory throughput was down by 350,000 to week ending 14 August, a 5% decline.

Irish factory throughput up to 14 August was 1,587,257, which is 118,213 lower than for the same period in 2020 and a 7% decline.

With New Zealand sending less product to Europe as its business grows in China, Irish factories will find sheepmeat easier sold in the market place, hence the strong demand for lambs.